AUD currently is fluctuating between 0.71307 and 0.71450. Thus these two lines formed vital support and resistance. Since USD has been relatively weaker, with the upcoming mid-term election this trend would go further. Therefore the overall strategy is still looking for opportunity to long.
Strategies:
1. If the resistance at 0.71450 is broken through, we shall take a long position to 0.71868. Stop loss at 0.71350.
2. If the support at 0.71307 does not hold, we shall take a short position to 0.71040. Stop loss at 0.71350.
Strategies:
1. If the resistance at 0.71450 is broken through, we shall take a long position to 0.71868. Stop loss at 0.71350.
2. If the support at 0.71307 does not hold, we shall take a short position to 0.71040. Stop loss at 0.71350.